Answer: True
Explanation: Hope This Helps :)
Answer:
Wages Expense debit $8,000
Wages Payable credit $8,000
Explanation:
At the end of December 31, which is a Thursday, workers would have worked 4 days out of a 5-day week, which implies we need to recognize wages for the 4 days because it has been incurred even not yet paid
Wages for 4-days=$10,000*4/5
Wages for 4-days=$8,000
We would debit wages account with $8,000 since an increase in an expense account is a debit entry while wages payable would be credited since it is an increase in liabilities
The basic principle of individual choice which these statements best illustrate is:
- B. People face trade-offs
<h3>What is Choice?</h3>
This refers to the ability of a person to make selections based on what he wants and what he can purchase.
With this in mind, we can see that Rina is training for a triathlon and because of this, she undergoes rigorous training and she makes use of her time effectively and this is an example of People face trade-offs
Read more about choices here:
brainly.com/question/25823499
Answer:
7.92%
Explanation:
The computation of the return on total assets is shown below:
Return on assets = (Net income) ÷ (average of total assets)
where,
Net income is $2,100
Average total assets = (Beginning total assets + ending total assets) ÷ 2
= ($33,500 + $19,500) ÷ 2
= $26,500
Now put these values to the above formula
So, the ratio would equal to
= $2,100 ÷ $26,500
= 7.92%
Answer:
Investment of 36,000 - long-term asset
16,000 note payable - current liability
144,000 note payable - non-current liability
Deferred revenue of 52,000 - current liability
Deferred revenue of 26,000 - non-current liability
Explanation:
For the investment amounting to 36,000, it should belong to the long-term asset since the management has no intention of liquidating it next year. For the note payable, only the amount maturing next year should be classified in the current liability.
The excess amount of the note payable should be classified in the long-term liability since its maturity amount will be paid for the next years to follow.
The deferred revenue amounting to 78,000 should be partly current liability and partly non-current liability since only two-thirds of it will be recognized next year and the other one-third will be recognized in the following years.
